Can anyone explain to me what the advantage is of the current Child Parent location is?
there are 2 types of assigning a parent you might be interested in:

regular one:

and keep transform one:

as you can see both have a 0.1 vector transform but they are not positioned the same from the parent.
read more about it here:
https://docs.blender.org/manual/en/2.79/editors/3dview/object/properties/relations/parents.html